Money management (1 Viewer)

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I am coming off of a 3 month vacation after being laid off my previous job. I am working now, but since then I have accumulated a bit of debt that was being paid, but it was the bare minimum each month. I am down to a mere $260 which I am definately not use to. I am wanting to strictly budget myself to get my savings back up to what it previously was and was wondering if anyone had some good software to use to help with budgeting? I can do it in Excel, but is there a good program to just input what you spend, make, etc.

Thanks!
 

TPS

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You can probably find something on the internets but I don't know of any specific program worth purchasing that would do any better than something you could get for free or make yourself. JMO

TPS
 

superchuck500

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Quicken is the gold standard, I think. But Steve is right, you can probably handle it yourself. No need to spend money on it.
 

philipkw

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I concur with what's been said already. Quicken has budgeting tools but why spend 20% of your net worth on a piece of software when you can accomplish a budget with a pencil and a piece of paper.

Good luck. You've certainly got the right attitude.
 

efil4stnias

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No need to spend money on it.


rule No 1 in money management. Dont spend money uselessly...

rule No.2 (this is our familys own ) if we dont have the cash to pay in full at the time, we dont buy it. ( unless big ticket items with extremely favorable "Same as cash" terms )

rule no 3. Save atleats 10% of your check each pay period in an account that is out of your normal driving distance. In other words with a bank across town. That way you are not tempted to withdraw or transfer funds as easily. (makes you put effort into getting the money )
 

Safety_In_Numbers

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Excel with some of the templates out there will do the job for you. The key with paying off your debt is taking a hard look at your spending habits. For a week or two, carry a tiny flip notebook or sheet of paper and pencil in your pocket, and every time you spend any money, write it down. Most people don't spend their income hundreds of dollars at a time other than major expenses (housing, transportation, etc). Most of their income gets spent $5 here, $20 there. Add it all up after two weeks and you'll see where the savings can come from to pay down your debt.

One thing to consider beyond just your tracking of expenses, is create a net worth statement. There's a link below to an Excel spreadsheet to help you calculate this. If you cut out some of the everyday luxuries in your life, you're going to feel a bit down and it might be hard to keep your motivation up. Tracking your net worth on a monthly basis, seeing the improvements you're making by making smart choices will give you some positive reinforcement to keep on the right track.

http://office.microsoft.com/en-us/templates/TC010183081033.aspx?pid=CT101444811033
 
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I have cut back on a good bit of things. I don't drink anymore and I basically just do little odd jobs when I get off of work. The thing that kills me is that I attend Herzing college at night which adds $30 in fuel each week + $80 a month for the little tutition my loan doesn't cover. Other than that, its the basics. I don't have a house, but next year I am getting married and hopefully will be purchasing a home... Soooooooo, that is one of the main reasons I want to get some savings.

I actually closed 3 credit cards since the initial post ;D
 

SaintJ

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Grow up, figure out what's left of your monthly paycheck after your rent, utilities, phone, car payments and insurance cost, and then figure out a way to JUST DON'T SPEND MORE THAN YOU ******* EARN for the next six months and see where you are.

You don't need software for this, you need a brain, a checkbook you can read, and a spine.

After this little drill, hell with the money, you will feel so much better about yourself and your ability to control your own destiny you won't know what hit you.
 

Safety_In_Numbers

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The investment in yourself will pay big dividends in the long run so while the fuel cost is going to be a problem for the forseeable future, in the long run you'll be much better off for it. As one of my mentors says, now is the time to fix the next 10 years of your life. It sounds like you're well on that track.
 
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Grow up, figure out what's left of your monthly paycheck after your rent, utilities, phone, car payments and insurance cost, and then figure out a way to JUST DON'T SPEND MORE THAN YOU ******* EARN for the next six months and see where you are.

You don't need software for this, you need a brain, a checkbook you can read, and a spine.

After this little drill, hell with the money, you will feel so much better about yourself and your ability to control your own destiny you won't know what hit you.

I guess I should have specified free :) I don't buy software :mwink:

I have managed to only spend money on gas, food, and my school tuition so it is going pretty well :) All my last months bills are paid so I have 4 weeks to build up my stash :9:
 

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